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Conditional Waiver On Final Payment
I need a Conditional Waiver on Final Payment document for a residential construction project in Copenhagen, with final payment of 500,000 DKK due March 15, 2025, including release of 5% retention and confirmation that all subcontractor claims have been settled.
1. Parties: Identification of the contractor/subcontractor providing the waiver and the party making the final payment
2. Background: Brief description of the project, reference to the original contract, and context for the final payment and waiver
3. Definitions: Definition of key terms including 'Final Payment', 'Effective Date', 'Project', and 'Claims'
4. Payment Amount and Details: Specification of the final payment amount and payment method
5. Conditions for Waiver: Clear statement of all conditions that must be met for the waiver to become effective
6. Scope of Waiver: Detailed description of what rights, claims, and liens are being waived
7. Representations and Warranties: Statements confirming authority to execute the waiver and that all subcontractors and suppliers have been paid
8. Governing Law: Specification that Danish law governs the waiver
9. Execution: Signature blocks and execution requirements
1. Excluded Claims: Section listing any specific claims or rights that are explicitly excluded from the waiver - include when there are known pending claims or disputes
2. Retention Release: Section addressing the release of any retained amounts - include when retention has been held
3. Third Party Rights: Section addressing rights of subcontractors or suppliers - include when there are significant subcontractor relationships
4. Insurance Claims: Section preserving rights related to insurance claims - include when there are pending or potential insurance claims
5. Dispute Resolution: Section specifying dispute resolution procedures - include when parties want specific dispute resolution mechanisms
1. Schedule A - Payment Details: Detailed breakdown of the final payment amount, including any adjustments or deductions
2. Schedule B - Project Information: Detailed description of the project scope and completed works
3. Schedule C - Outstanding Claims Register: List of any known outstanding claims or disputes (if any)
4. Appendix 1 - Original Contract Reference: Copy or key details of the original contract being referred to
5. Appendix 2 - Supporting Documentation: Copies of relevant certificates, approvals, or other supporting documents
Authors
Claim
Completion Date
Contract Documents
Contract Price
Contractor
Effective Date
Excluded Claims
Final Payment
Final Payment Date
Liens
Original Contract
Owner
Project
Project Site
Retention
Subcontractor
Substantial Completion
Supplier
Waiver
Work
Working Day
Payment Certificate
Release Date
Outstanding Claims
Payment Application
Project Documentation
Conditional Release
Contract Balance
Dispute
Recitals
Definitions
Payment Terms
Waiver Conditions
Release of Claims
Exceptions to Waiver
Representations and Warranties
Payment Confirmation
Lien Release
Retention Release
Subcontractor Relations
Governing Law
Notices
Severability
Entire Agreement
Authority to Execute
Third Party Rights
Dispute Resolution
Execution
Further Assurance
Indemnification
Survival
Assignment
Construction
Real Estate Development
Infrastructure
Commercial Property
Residential Development
Industrial Construction
Public Works
Engineering
Architecture
Facilities Management
Legal
Finance
Operations
Project Management
Commercial
Procurement
Risk Management
Contract Administration
Construction Management
Claims Management
Project Manager
Construction Manager
Contract Administrator
Legal Counsel
Finance Director
Commercial Director
Site Manager
Quantity Surveyor
Chief Financial Officer
Operations Director
Project Director
Claims Manager
Risk Manager
Procurement Manager
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